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Nonprofit · EIN 85-0036237

FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO

Tax-exempt · CLOVIS, NM 88102

Financials

$42.6M$42.4M2023$44.1M$43.5M2024
Revenue Expenses · by fiscal year end
Financials of FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$44,143,399$43,532,065$611,334$153,749,954$89,560,108$64,189,846
December 31, 2023990$42,596,016$42,425,385$170,631$137,801,679$77,411,068$60,390,611
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$43,502,412
Investment income
$629,848
Other revenue
$11,139

Expenses

Grants and similar amounts paid
$13,635
Benefits paid to members
$4,062,388
Compensation of officers, directors and key employees
$650,741
Other salaries and wages
$2,927,748
Salaries, compensation and benefits (total)
$5,325,646
Professional fundraising fees
$0
Depreciation
$4,393,843

Balance sheet and other

Total assets, start of year
$137,801,679
Total assets, end of year
$153,749,954
Total liabilities, end of year
$89,560,108
Net assets, end of year
$64,189,846
Land, buildings and equipment
$111,614,560
Publicly traded securities
$2,195,086
Gross receipts
$44,143,399
Employees
64
Volunteers
0
Year formed
1937
State of legal domicile
NM

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
ANTONIO SANCHEZCEO/GENERAL MANAGER
Officer
46$181,507$83,955
BARRY T BASSLINE SUPERINTENDENT
Highest-paid employee
50$124,528$112,684
THOMAS J MOOREDIRECTOR OF MEMBER SERVICE
Officer
45$123,963$54,838
SUZETTE HOWARDCFO
Officer
45$120,252$57,759
HELEN JO WALLINCUSTOMER SERVICE/HR MANAGER
Highest-paid employee
45$121,404$44,332
MICHAEL L MCCORDENGINEERING MANAGER
Highest-paid employee
50$118,771$36,404
KALON LAFFERTYLINE FOREMAN
Highest-paid employee
50$114,238$19,248
CALVIN LILESLINE FOREMAN
Highest-paid employee
50$107,337$20,547
GEORGE DODGE JRVICE PRESIDENT
Trustee or director, Officer
5.5$5,517$0
JUBAL PIERCETRUSTEE (JAN-NOV)
Trustee or director
3.8$4,517$0
QUENTIN WOODTRUSTEE (MAY-DEC)
Trustee or director
2.9$3,985$0
MICHAEL B WESTPRESIDENT
Trustee or director, Officer
4$3,893$0
JUDY SMITHTRUSTEE
Trustee or director
2.6$3,517$0
DONNIE BIDEGAINSECRETARY/TREASURER
Trustee or director, Officer
3.9$3,317$0
JUSTIN BARNESTRUSTEE
Trustee or director
2.2$2,717$0
1 more people on this return
NameTitleHours / weekCompensation
JOHN PAT WOODSTRUSTEE (JAN-MAY)
Trustee or director
0.9$1,004
990 for the year ended December 31, 2023: 15 people
NameTitleHours / weekCompensationOther / benefits
ANTONIO SANCHEZCEO/GENERAL MANAGER
Officer
50$170,355$79,844
BARRY T BASSLINE SUPERINTENDENT
Highest-paid employee
50$121,225$103,303
THOMAS J MOOREDIRECTOR OF MEMBER SERVICES
Officer
45$121,365$51,179
SUZETTE HOWARDACCOUNTING MANAGER
Officer
45$116,061$54,772
HELEN JO WALLINCUSTOMER SERVICE/HR MANAGER
Highest-paid employee
45$115,606$42,974
MICHAEL L MCCORDENGINEERING MANAGER
Highest-paid employee
50$116,752$36,201
TYLER CABELDUELINE FOREMAN
Highest-paid employee
58$101,390$37,629
KALON LAFFERTYLINE SUPERINTENDENT
Highest-paid employee
58$106,763$18,426
GEORGE DODGE JRVICE PRESIDENT
Trustee or director, Officer
4.9$6,142$0
MICHAEL B WESTPRESIDENT
Trustee or director, Officer
4.5$4,516$0
JUBAL PIERCEDIRECTOR (JAN-NOV)
Trustee or director
3$4,457$0
JUDY SMITHDIRECTOR
Trustee or director
3.6$3,942$0
DONNIE BIDEGAINSECRETARY/TREASURER
Trustee or director, Officer
4.1$3,142$0
JUSTIN BARNESDIRECTOR
Trustee or director
2.4$3,142$0
JOHN PAT WOODSDIRECTOR
Trustee or director
2.3$2,693$0

Address and contacts

Address (IRS master file)
PO BOX 550, CLOVIS, NM 88102-0550
In care of
% SUZETTE HOWARD
Principal officer (990 for 2024)
ANTONIO SANCHEZ JR, PO BOX 550, CLOVIS, NM 881020550
Signed the 990
ANTONIO SANCHEZ JR, CEO
Phone
(575) 762-4466
Return prepared by
BOLINGER SEGARS GILBERT AND MOSS LLP

Mission

NONE

990 for the year ended December 31, 2024

Program accomplishments

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 16,290 ACTIVE SERVICES AT YEAR END.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
85-0036237
Tax-exempt status
501(c)(12): Benevolent life insurance association or mutual company
Donations deductible
No
Exempt since
1939
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$153,749,954
Income (IRS master file)
$44,143,399

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$44,143,399$43,532,065$153,749,954XML
990December 2023$42,596,016$42,425,385$137,801,679XML
990December 2022$47,264,526$46,762,466$137,800,646IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 85-0036237).

Questions about FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO

What is the EIN of FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO?
The employer identification number (EIN) of FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO is 85-0036237.
Is FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1939.
Are donations to FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO?
The 990 for the year ended December 31, 2024 names ANTONIO SANCHEZ JR.
Who are the officers and directors of FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO?
The 990 for the year ended December 31, 2024 lists 16 people; 16 received compensation from the organization, the highest $181,507 (ANTONIO SANCHEZ, CEO/GENERAL MANAGER).
How much revenue does FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO have?
On its 990 for the year ended December 31, 2024 it reported revenue of $44,143,399, expenses of $43,532,065 and total assets of $153,749,954 at year end.

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